Source: Chordiant Software
Chordiant Software, Inc. (Nasdaq:CHRD), the leading provider of Customer Experience (Cx) software and services, today released Chordiant Decision Management version 6.1.
This latest release of Chordiant's patented real-time predictive decisioning solution adds new enterprise-class capabilities to its already unprecedented scalability, usability and intelligence. With new collaborative development, version management and off-line backup capabilities, Chordiant Decision Management 6.1 makes it even easier for business owners to develop and deploy highly sophisticated Cx strategies in large-scale environments.
Distributed collaborative development features in Chordiant Decision Management 6.1 enable teams located anywhere in the world to work independently on developing decision logic and strategies in support of the overall customer experience. This increases security, as "sensitive" strategies need to be viewed or modified only by those who are authorized to do so. Collaborative development also enables faster development of the overall business logic because component strategies can be developed in parallel.
Once completed, individual strategies are "checked in" to an advanced version management system that is based on open standards and automatically assembled into the corporate strategy. The version management system also acts as a centralized strategy development repository that enables best practices to be leveraged across the entire organization. Best-of-breed logic can be accessed from the repository, localized, customized, and re-used to suit the needs of any group within the organization.
Chordiant Decision Management 6.1 has also simplified and enhanced the management, monitoring and deployment of its adaptive (i.e. real-time, self-learning) decisioning models, making them even easier to use and further increasing scalability for an enterprise environment. One of these features enables off-line backups of the real-time models, allowing users to revert back to the original state of a model.
"There are some solutions that take existing technology concepts and build solutions that are out of the ordinary. Chordiant Decision Management is one such solution. At one level Chordiant Decision Management can be seen as a rules-based process-centric solution; however, the solution goes much further than this by implementing a predictive model that removes many of the constraints of rules-based logic… it is hard to imagine a much better assembled solution being available. In some areas it actually drives some of the future elements of BPM (most noticeably in predictive analysis)… if organizations want to improve customer service across multiple channels (which, experience tells us is where most customer service fails) then they should give consideration to the Chordiant solution," states Michael Thompson, BPM practice director, The Butler Group, a Datamonitor company.
Chordiant Decision Management Delivers "Next-Best-Action"
Chordiant Decision Management comprises a suite of predictive decisioning applications that form the core of Chordiant's vertical Cx solutions for the insurance/healthcare, telecommunications and financial services industries. With Chordiant decisioning, companies become more responsive to customer needs and more agile in the face of market pressures by delivering consistent, Next-Best-Action-driven interactions across all channels. Business line managers and marketing managers can create customer interaction and marketing strategies that help build customer loyalty while increasing efficiency and profitability.
In the contact center, Chordiant Decision Management guides agents through proposition negotiations with real-time recommendations that take into consideration the customer's history and likely behaviors. Agents can negotiate for retention or collections and make cross-sell or up-sell offers that change on-the-fly depending on the customer's reaction. When the moment is right, Chordiant Decision Management can even guide an agent through a non-scripted, intelligent needs analysis Q&A with the customer. With only a pre-determined first question, the system will dynamically determine subsequent questions depending on the customer's history and current answers. For Telco's, the system can do real-time best plan advice calculations that can be used as a cross-/up-selling or retention tool. This advanced, on-the-fly decision-making can also be used for credit scoring and risk management in lending.
In spite of Chordiant Decision Management's extreme sophistication, every tool used to design, test, and deploy these real-time strategies can be understood and controlled by business users. This gives business owners the ability to manage the success of marketing efforts in real-time and measure that success in terms of impact on the bottom line. To ensure operational safety, IT can set the parameters in which customer strategies can be safely defined and deployed to ensure that existing systems and processes are not negatively impacted. In addition, Chordiant Decision Management is designed for the large enterprise, enabling hundreds of live, self-learning models to be implemented across thousands of users and millions of interactions without impacting overall system performance.
"This is a very exciting release for us, as it brings together the unprecedented predictive power of Chordiant Decision Management with unparalleled ease of use in a complex, multi-channel enterprise environment," said James St. Jean, CTO, Chordiant Software. "Chordiant Decision Management is not only the most user-friendly but also the most sophisticated decisioning solution available on the market today. It can be fully owned by business, allowing virtually zero time to market for new Cx strategies or propositions, without employing simplistic approaches to developing and deploying complex decisioning. As the heart of our customer experience management solutions, today Chordiant Decision Management is changing the face of the customer experience for many of the world's leading consumer brands."